The Trust Registration Service (TRS)

The Trust Registration Service (TRS)

The Trust Registration Service (TRS) is HMRC's register of the beneficial ownership of trusts.

Who does it apply to?

From 6 October 2020 the scope of trusts required to register was extended to nearly all express trusts, not just those with a UK tax liability. Now all UK express trusts and some non-UK express trusts need to register, subject to some specific exclusions.

What are the key requirements/dates/penalties?

Trusts with a UK tax liability had to register on TRS by 31 January (or 5 October in some cases) following the end of the tax year in which the trust had a liability to UK tax. Following the extension, non-taxable trusts are required to register on the TRS by 10 March 2022, however HMRC has stated that this deadline will be extended as the online portal does not allow these trusts to register yet. Penalties starting at £100 can be charged for failing to register on TRS or updating the register when there has been a change.


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